Bush Confident Congress Will Pass Bailout Quickly
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
UNITED NATIONS — President Bush is trying to assure world leaders that his government is acting decisively and quickly to contain a financial crisis.
In a speech today at the annual U.N. General Assembly, the president said he realizes that other nations are watching how America deals with the financial meltdown that is shaking the global economy. He said that his administration is working with Congress to come to fast agreement on a $700 billion bailout bill, in addition to other recent actions he called “bold steps” aimed at stabilizing markets and keeping credit flowing.
Mr. Bush said he is confident that America will act “in the urgent timeframe required” to prevent broader problems. He did not ask for any action by other countries.
